Business Desk 
Dec 28, 2024
An undated image of prize bonds. —Facebook/NSS
The State Bank of Pakistan (SBP) has issued a notice announcing an extension for the encashment, conversion, and redemption of National Prize Bonds (NPBs).
The extension aims to provide more time for the public to exchange their bonds.
Last date for redemption of withdrawn prize bonds
The Finance Division of the Government of Pakistan has issued a notification extending the last date for encashment, replacement, and conversion of Rs40,000, Rs25,000, Rs15,000, and Rs7,500 denomination National Prize Bonds.
According to the notification, the new deadline for redemption of withdrawn prize bonds is December 31, 2024.
SBP instructions for banks
All the participating commercial banks are directed to continue accepting requests for encashment, conversion, and redemption of these bonds on behalf of the general public until the new deadline.
Banks are mandated to submit consolidated data of these bonds held by them as of December 31, 2024, by January 02, 2025.
All commercial banks must return the prize bonds cited above to the respective SBP BSC Office by January 31, 2025.
The SBP also mentioned that all other directions about the encashment and conversion of these bonds remain the same. All banks are directed to notify all their branches and concerned officers of these instructions for strict compliance.
